What to do in absence of a Will - Is succession certificate is necessary in absence of a Will- What circumstances a succession certificate is required -- 9840802218
Usually, a succession certificate is the key document that you need. "In the absence of a will, a succession certificate will be the primary document through which the heirs can stake a claim to the assets of a deceased relative," says Bobby Portia Alex. A succession certificate, under the Indian Succession Act, is a document that gives authority to the person who obtains it, to represent the deceased for the purpose of collecting debts and securities due to him or payable in his name.
For a succession certificate, you need to apply to a magistrate or a high court. Usually, courts have a separate cell that issues succession certificates. When it comes to immovable property , there are other documents, like, for instance, a gift deed, that can help. K.P.Satish Kumar Advocate, Managing partner, Daniel & Daniel, says, "In some states, in cases of intestate succession, property can be gifted or the share in the immovable property can be released by the legal heirs to each other. This can be done by executing and registering the gift deed or release deed with the registrar of assurances."
It's best to have a will in place, but if there isn't one, certain documents can make up for its absence.
The death of a loved one is the most dreaded thing that can happen to any family. It can get even more traumatic when the family realises that the deceased has not left a will behind. In such a situation, the family is usually left running from pillar to post, trying to gain access to the property which, in many cases, could be the only saviour from doom.
However, according to experts, the family can still get its due even in the absence of a will, provided it can get hold of a few documents. "A succession certificate and a copy of the death certificate should solve at least 95-96 % of your problem," says Bobby Portia Alex, Advocate Madras High Court
Usually, a succession certificate is the key document that you need. "In the absence of a will, a succession certificate will be the primary document through which the heirs can stake a claim to the assets of a deceased relative," says Bobby Portia Alex. A succession certificate, under the Indian Succession Act, is a document that gives authority to the person who obtains it, to represent the deceased for the purpose of collecting debts and securities due to him or payable in his name.
For a succession certificate, you need to apply to a magistrate or a high court. Usually, courts have a separate cell that issues succession certificates. When it comes to immovable property , there are other documents, like, for instance, a gift deed, that can help. K.P.Satish Kumar, Managing partner, Daniel; & Daniel, says, "In some states, in cases of intestate succession, property can be gifted or the share in the immovable property can be released by the legal heirs to each other. This can be done by executing and registering the gift deed or release deed with the registrar of assurances."
For access to the deceased's bank accounts, the process differs slightly. If the deceased has made some nominations, then naturally, the nominees will claim the balances. "If there is a nomination made by the deceased, then the nominee can claim the balances/investments based on the nomination," says K.P.Satish Kumar. Bobby Portia Alex points out, "Banks, under RBI's guidelines, are bound to pay to the nominees if the nominations had been registered with the bank. Here registration refers to a confirmation from the concerned bank."
But for most people, the real problem arises when there is neither a nomination nor a will. What do you do in such a case? "You need a certified copy of the death certificate to gain access to the bank accounts . The banks usually look to see if the deceased had assigned a beneficiary for the account. If there is no beneficiary, then the succession rule would apply," Usually, the hospital or the crematorium issues the death certificate.
As, in most case, securities form a substantial part of assets. "The process of transmission in case of dematerialised holdings is more convenient as the transmission formalities for all securities held in a demat account can be completed by submitting necessary documents to the depository participant (DP), whereas in case of physical securities the legal heirs/nominee/surviving joint holder has to independently correspond with each company in which securities are held," says Bobby Portia Alex.
"The claimant should also submit to the concerned DP an application in transmission request form (TRF) along with a notarised copy of the death certificate, in case of the death of the sole holder where the sole holder has appointed a nominee," she adds.
Again, a problem will arise when the sole holder has not appointed a nominee. What would you do in such a case? "In such a case, you will need a notarised copy of the death certificate of the holder and any one of the following certificates: succession certificate: a certified copy of the will and the probate (if there is any), a certified copy of the letter of administration (if value of holding is less than Rs 1 lakh)," says Bobby Portia Alex.
Imagine a situation where the parent of a child has died suddenly without leaving a will. What can a minor child do in such a case? "A minor child needs to file a case in any court or petition through a guardian under the law or a guardian appointed by the court," says Gupta. "Although minors have the legal capacity to own property, they do not have legal capacity to manage it," says Bobby Portia Alex.
Since minors are legally incapable of handling property , a guardian is appointed from among their relatives to manage the property. "Should no one step forward to be a guardian (under the supervision of Court) on account of the fiduciary nature of the responsibility, the court may appoint a guardian and house the share of the minor with such a guardian," adds K.P.Satish Kumar.
Do you need to go through Succession Certificate if there is no Will? • Can you avoid Succession certificate without having a Will ? • How do I apply succession certificate if there is no Will ? • How to apply for a Succession Certificate? For Legal queries Daniel & Daniel Attorneys & Solicitors 2132, Vasantham Colony, Annanagar-West, Chennai-600040 Phone: 9840787702
The Author K.P.Satish Kumar M.L. is the leading Property Advocate in Chennai. You can talk to the top property lawyer, top probate lawyer for free 15 minutes @ 9840802218. Queries about Top Probate advocate in Chennai, leading property in Chennai, advocate for will, advocate for probate. Daniel & Daniel Advocates @ 9840802218
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxlqjT-HKFmoywC9DGori8LjTtcc6AMcXX0I7qmQTENw-G5XS-6XUJVPIdg35-1af0pmIY_uPoe1H-UdtMCC9UqVekCayM_Rz2M5BiC_BtbUqvhPra6iuu9v97PgWVqxyYZQ-bubc6q5lu/s1600/images+%25281%2529.jpg" imageanchor="1" ><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxlqjT-HKFmoywC9DGori8LjTtcc6AMcXX0I7qmQTENw-G5XS-6XUJVPIdg35-1af0pmIY_uPoe1H-UdtMCC9UqVekCayM_Rz2M5BiC_BtbUqvhPra6iuu9v97PgWVqxyYZQ-bubc6q5lu/s320/images+%25281%2529.jpg" width="320" height="179" data-original-width="300" data-original-height="168" /></a>
For a succession certificate, you need to apply to a magistrate or a high court. Usually, courts have a separate cell that issues succession certificates. When it comes to immovable property , there are other documents, like, for instance, a gift deed, that can help. K.P.Satish Kumar Advocate, Managing partner, Daniel & Daniel, says, "In some states, in cases of intestate succession, property can be gifted or the share in the immovable property can be released by the legal heirs to each other. This can be done by executing and registering the gift deed or release deed with the registrar of assurances."
It's best to have a will in place, but if there isn't one, certain documents can make up for its absence.
The death of a loved one is the most dreaded thing that can happen to any family. It can get even more traumatic when the family realises that the deceased has not left a will behind. In such a situation, the family is usually left running from pillar to post, trying to gain access to the property which, in many cases, could be the only saviour from doom.
However, according to experts, the family can still get its due even in the absence of a will, provided it can get hold of a few documents. "A succession certificate and a copy of the death certificate should solve at least 95-96 % of your problem," says Bobby Portia Alex, Advocate Madras High Court
Usually, a succession certificate is the key document that you need. "In the absence of a will, a succession certificate will be the primary document through which the heirs can stake a claim to the assets of a deceased relative," says Bobby Portia Alex. A succession certificate, under the Indian Succession Act, is a document that gives authority to the person who obtains it, to represent the deceased for the purpose of collecting debts and securities due to him or payable in his name.
For a succession certificate, you need to apply to a magistrate or a high court. Usually, courts have a separate cell that issues succession certificates. When it comes to immovable property , there are other documents, like, for instance, a gift deed, that can help. K.P.Satish Kumar, Managing partner, Daniel; & Daniel, says, "In some states, in cases of intestate succession, property can be gifted or the share in the immovable property can be released by the legal heirs to each other. This can be done by executing and registering the gift deed or release deed with the registrar of assurances."
For access to the deceased's bank accounts, the process differs slightly. If the deceased has made some nominations, then naturally, the nominees will claim the balances. "If there is a nomination made by the deceased, then the nominee can claim the balances/investments based on the nomination," says K.P.Satish Kumar. Bobby Portia Alex points out, "Banks, under RBI's guidelines, are bound to pay to the nominees if the nominations had been registered with the bank. Here registration refers to a confirmation from the concerned bank."
But for most people, the real problem arises when there is neither a nomination nor a will. What do you do in such a case? "You need a certified copy of the death certificate to gain access to the bank accounts . The banks usually look to see if the deceased had assigned a beneficiary for the account. If there is no beneficiary, then the succession rule would apply," Usually, the hospital or the crematorium issues the death certificate.
As, in most case, securities form a substantial part of assets. "The process of transmission in case of dematerialised holdings is more convenient as the transmission formalities for all securities held in a demat account can be completed by submitting necessary documents to the depository participant (DP), whereas in case of physical securities the legal heirs/nominee/surviving joint holder has to independently correspond with each company in which securities are held," says Bobby Portia Alex.
"The claimant should also submit to the concerned DP an application in transmission request form (TRF) along with a notarised copy of the death certificate, in case of the death of the sole holder where the sole holder has appointed a nominee," she adds.
Again, a problem will arise when the sole holder has not appointed a nominee. What would you do in such a case? "In such a case, you will need a notarised copy of the death certificate of the holder and any one of the following certificates: succession certificate: a certified copy of the will and the probate (if there is any), a certified copy of the letter of administration (if value of holding is less than Rs 1 lakh)," says Bobby Portia Alex.
Imagine a situation where the parent of a child has died suddenly without leaving a will. What can a minor child do in such a case? "A minor child needs to file a case in any court or petition through a guardian under the law or a guardian appointed by the court," says Gupta. "Although minors have the legal capacity to own property, they do not have legal capacity to manage it," says Bobby Portia Alex.
Since minors are legally incapable of handling property , a guardian is appointed from among their relatives to manage the property. "Should no one step forward to be a guardian (under the supervision of Court) on account of the fiduciary nature of the responsibility, the court may appoint a guardian and house the share of the minor with such a guardian," adds K.P.Satish Kumar.
Do you need to go through Succession Certificate if there is no Will? • Can you avoid Succession certificate without having a Will ? • How do I apply succession certificate if there is no Will ? • How to apply for a Succession Certificate? For Legal queries Daniel & Daniel Attorneys & Solicitors 2132, Vasantham Colony, Annanagar-West, Chennai-600040 Phone: 9840787702
The Author K.P.Satish Kumar M.L. is the leading Property Advocate in Chennai. You can talk to the top property lawyer, top probate lawyer for free 15 minutes @ 9840802218. Queries about Top Probate advocate in Chennai, leading property in Chennai, advocate for will, advocate for probate. Daniel & Daniel Advocates @ 9840802218
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxlqjT-HKFmoywC9DGori8LjTtcc6AMcXX0I7qmQTENw-G5XS-6XUJVPIdg35-1af0pmIY_uPoe1H-UdtMCC9UqVekCayM_Rz2M5BiC_BtbUqvhPra6iuu9v97PgWVqxyYZQ-bubc6q5lu/s1600/images+%25281%2529.jpg" imageanchor="1" ><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjxlqjT-HKFmoywC9DGori8LjTtcc6AMcXX0I7qmQTENw-G5XS-6XUJVPIdg35-1af0pmIY_uPoe1H-UdtMCC9UqVekCayM_Rz2M5BiC_BtbUqvhPra6iuu9v97PgWVqxyYZQ-bubc6q5lu/s320/images+%25281%2529.jpg" width="320" height="179" data-original-width="300" data-original-height="168" /></a>
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